Alfa Bank to come up with first Commercial Paper programme out of Russia since the 1998 debt crisis and rated C by Standard and Poor’s.
23 Dec 2003
Merrill Lynch International and UBS Investment Bank acted as arrangers and dealers on the programme. The programme is listed on the London Stock Exchange.
Alfa Bank has opened a new investor base for Russian credits, demonstrating the continuing development of the international capital markets with respect to Russian credits.
Alfa Banking Group is Russia's largest private bank in terms of assets, branches, retail deposits and assets under management.
"The bank established the programme to diversify its funding base and to provide it with a flexible instrument to finance the bank's clients in the debt capital markets", said Simon Vine, deputy head of investment banking, managing director of Alfa Bank.
According to S.Vine, the bank would return to looking at establishing a EuroMTN programme early in the new year.
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